22 June 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar catches breath as traders await Powell testimony
- Japan’s Nikkei 225 jumps more than 2% as Asia-Pacific stocks mostly rise
- Oil falls but sentiment stays strong on demand recovery hopes
The dollar paused for breath on Tuesday as traders looked to testimony from U.S. Federal Reserve chair Jerome Powell for guidance, after a surprise shift in the central bank’s policy outlook, while cyptocurrencies nursed heavy losses.
Against the euro, the dollar nursed an overnight loss of about 0.4% to steady around $1.1909. It held at 110.31 yen, and the dollar index was steady at 91.915 after a loss of about 0.5% on Monday.
The Australian and New Zealand dollars eased – after snapping losing streaks on Monday – with the Aussie down 0.2% to $0.7527 and the kiwi down 0.15% to $0.6978.
Shares in Asia-Pacific rose in Tuesday morning trade, with shares in Japan leading gains among the region’s major markets.
In Japan, the Nikkei 225 jumped 2.33% in morning trade, partially recovering from its more than 3% tumble on Monday. The Topix index gained 2.53%. Mainland Chinese stocks edged higher as the Shanghai composite gained about 0.4% while the Shenzhen component rose fractionally. Hong Kong’s Hang Seng index fell slightly. South Korea’s Kospi advanced 0.54%. Over in Australia, the S&P/ASX 200 gained 1.34%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.26% higher. Overnight on Wall Street, the Dow Jones Industrial Average jumped 586.89 points to 33,876.97. The S&P 500 also rose 1.4% to 4,224.79 while the Nasdaq Composite advanced 0.79% to 14,141.48.
Crude dropped on Tuesday as investors cashed in on a recent rally, but market sentiment remained solid on hopes for a quick recovery in oil demand in the U.S. and European markets and fading expectations for an early return of Iranian crude.
Brent crude futures for August eased 10 cents, or 0.1%, to $74.80 a barrel , while U.S. West Texas Intermediate (WTI) crude for July was at $73.44 a barrel, down 22 cents, or 0.3%. WTI for August fell 15 cents, or 0.2%, to 72.97 a barrel.
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